DBT: Global Opportunities and Making Connections Breakfast
The Department for Business and Trade (DBT) Northern Ireland hosted CEOs Connect at their offices in Erskine House on 20th April 2023 to share the services they can offer to help companies boost exports.
The Belfast office wants to raise the profile of DBT in NI so that an increased number of NI companies are taking advantage of the services DBT offer. They also act as the voice of NI at a UK level to build regional benefits and ensure levelling up reaches NI.
We met with 4 team members;
James Toolan, Deputy Director, DIT Northern Ireland
Cathy Bradin, Head of Team DIT NI
Glen McMahon, Head of Advanced Manufacturing and Technology
Elizabeth McCrory, Senior Export Finance Manager
Trade Agreements
There was some discussion around Trade Agreements. DBT welcome input from companies on any barriers to trade to enable them to fee in NI interest to FTAs. They try to help mitigate market access barriers such as customs facilitation, and payments.
PB100 is the list of top barriers and currently, NI companies don’t feed into this. The NI office has a lead in the team who follows through on NI issues and feeds back when resolved. Whilst FTAs don’t tell a story other than tariffs, the momentum and PR can offer opportunities e.g government wants to see growth in exports to NZ and Aus following recent agreement. They are working on MOU’s in the US as currently there is no appetite for a trade deal., these are often at a state level.
The best way to keep up to date on trade policy developments is to sign up for alerts at https://www.gov.uk/guidance/uk-trade-agreements-in-effect. Discussion around trading with China, it is generally ok unless in a space that raises issues in security/defence, more info here in the China T & I Investment Fact Sheet.
The team outlined the following support services available to Northern Ireland businesses
The Department for Business and Trade (DBT) Northern Ireland hub is dedicated to supporting Northern Ireland businesses to boost exports, grow internationally, support inward investment and create high-value jobs in Northern Ireland.
The team including Sector Leads in Advanced Manufacturing and Technology, Creative Industries, Agri-Food and Drink and Health and Life Sciences, works in close collaboration with local partners such as Invest NI and Catalyst to ensure DIT Northern Ireland’s focus and services are aligned with the Department for the Economy’s 10x Innovation Strategy.
DBT have a detailed and extensive package of support for all Northern Ireland businesses that are looking to export and succeed in a global marketplace. With a global network in over 100 markets across the globe, businesses of all sizes across Northern Ireland can benefit from DIT’s strongly established connections, sector knowledge and market specialists.
UK Export Academy
A free, comprehensive training offer available to Northern Ireland businesses that can be sold internationally. The UK Export Academy’s foundation course, market access events, sector-specific webinars and masterclasses give businesses the knowledge and skills to sell to customers around the world by learning from experts in international trade. Since its launch in mid-November 2021, over 1,500 businesses have signed up for the UK Export Academy from across the UK.
Northern Ireland businesses signing up will have access to a dedicated Export Academy Adviser, and an opportunity to network with other businesses that have global ambitions, ensuring businesses can build and learn from exporting successes through business-to-business networking and peer-to-peer learning. To learn more about the UK Export Academy, and to register for events, please visit https://www.events.great.gov.uk/website/6264/.
The team also advised that whilst most of these events are live they are moving to creating a library of recorded content. Some in-person sessions on e-commerce are coming up. They also have an MOU with Invest NI and are working collaboratively to build content specific to NI.
Export Support Service
The Export Support Service has recently been launched, click here for more information and follow the steps. This is a new service and is growing. A criterion is set for this service. The ESS is a free government service run by the Department with access to a wide range of sector knowledge, contacts, market intelligence, and export guides.
UK Tradeshow Programme
The UK Tradeshow and Trade Mission Programme aims to help businesses to maximise their impact at international tradeshows, whether as exhibitors or visitors. Exhibiting at overseas trade shows can help businesses gain essential market knowledge and increase both the company’s brand awareness and their business sales.
If you export, or you are considering exporting, you can apply for support to attend or exhibit at overseas tradeshows and conferences. There is also the potential to apply for UKG-funded grants to offset some costs. To apply for support through the UK Tradeshow Programme, please visit https://www.gov.uk/guidance/uk-tradeshow-programme#how-to-apply. This is currently being re-launched and is within the business planning stage at present. (The new programme is about to be launched, keep checking in the coming few weeks)
UK Export Finance (UKEF)
UK Export Finance (UKEF) is the UK’s export credit agency. UKEF work with the DBT, Her Majesty’s Treasury, and over 70 private lenders and credit insurers to support UK businesses that export. The product range includes buyer finance, exporter guarantees, and insurance. Liz is the Belfast office contact.
They can help exporters win overseas projects by backing the project to ensure the UK supply chain is involved. This is a great access point into a supply chain and gives confidence to a buyer in another country, giving an advantage over other sellers (min amount £1 million).
https://www.gov.uk/guidance/standard-buyer-loan-guarantee
They also back working capital for exporting businesses. To qualify as an exporting business you must demonstrate that a certain % of your turnover is export ( either 5% every year for the past 3 years or 20% of any one year in the past 3 years).
General Export Facility
The GEF provides partial guarantees to banks to help UK exporters to gain access to trade finance facilities. Through GEF, we can support the following facility types, with maximum repayment terms of up to 5 years. They have delegated authority with the top 5 banks in the UK. Barclays are one of the banks the NI office work with. They recently supported Wrightbus with a £26 million guarantee. The facility is sector-agnostic but banks do request up to 3 years of audited accounts. Loans are generally £1million+ but Newable does offer smaller short-term loans up to £300k at slightly higher rates.
UK government can also provide export insurance when trading with riskier markets and provide bespoke advice on this.